28 August 2012
27 August 2012
Destination Branding is Difficult and Calls for a Different Approach (Part One)
original / source
by Bill Baker
by Bill Baker
I really agree with the comments by Jonathan Bernstein, executive director for brand strategy forInterbrand Singapore in the Cebu Sun Star, who said “Out of all the brands that need to be developed, destination branding is the most challenging.” He added, “Many people confuse a brand for a logo, a tagline or an advertising campaign. With products, companies only need to show the economic value for the consumer. But with places are much more complex.”
He explained so many things influence a destination, such as heritage, history, food and the people while there are many things beyond the control of the destination’s brand developers.
For Bernstein, a brand is a reputation. “Everything you do will build or take away from your reputation.” Bernstein said a brand helps to hold everything together and will serve as a guide for the long-term, medium-term and short-term direction a place wants to take.
I have advocated in my book, Destination Branding for Small Cities – Second Editionthat place branding is about establishing a framework for prioritization and should contribute directly to increased effectiveness and efficiency in how cities and downtowns compete and present themselves. It enables places to focus on their differentiating strengths and leverage the combined power of stakeholder resources to establish their competitive identity. However, it is not easy getting to this point. Despite the many successes there are some failures that could have been avoided had participants recognized that branding places is very different to branding consumer products.
The path to revealing a place brand usually involves a multitude of stakeholders and departs from that generally followed for branding corporate products and services. One reason for the variation is the composite nature of places which are a compilation of many independent and competing businesses, products, and experiences that are owned and managed by many different organizations with no single management team or custodian.
Part Two will be posted Wednesday.
25 August 2012
How Europe's New Gold Standard Undermines Democracy
by Matthias Matthijs | 1:39 PM August 24, 2012
While the whole world has been adopting a pragmatic consensus on economic policy since the Great Recession, Europe — and Germany in particular — is stubbornly sticking to a policy that has all the downsides of the old classical gold standard.
From the US to Russia and Japan, and from Brazil to India and China, the rest of the world has been careful to preserve substantial flexibility with its domestic fiscal and monetary policy levers. No such caution in continental Europe, where a "one size fits none" monetary policy by an independent central bank that cannot act as a true lender of last resort and a Brussels-imposed fiscal straightjacket that has not served a single euro member state well reign the day. Add to that the problem of intra-European financial markets with "national" regulatory institutions and the lack of a Europe-wide deposit insurance scheme or common debt instrument, and one can start to understand why the euro zone is going through an existential crisis with still no real end in sight.
original source and credits
Matthias Matthijs is Assistant Professor of International Political Economy at Johns Hopkins University’s School of Advanced International Studies (SAIS).
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